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New FHL client no capital allowances claimed

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I have a new FHL client, trading as a partnership, for whom the previous accountant never made any Capital Allowance claims.

The FHL started in 2009 so most of the expenditure on P&M (and the purchase of the properties) occured then.


Am I right in thinking there is no time limit for a CA claim provided the P&M is still owned in the tax year the CA claim is made.



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By plummy1
15th Nov 2017 00:05

Yes you are correct that there is no time limit on claiming capital allowances provided the fixtures are still in use within the trade in the year in which they are claimed.

We have a lot of experience in undertaking claims for Fhl owners and would be happy to provide an estimate for undertaking the work. If you would be interested to discuss please PM me with your details.

Thank you. John.

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Replying to plummy1:
By plummy1
15th Nov 2017 12:21

I just wanted to add that capital allowances will no doubt be available on the original purchase of the property and the "fixtures" within it including integral features. This is why I suggest you may need a specialist to maximise the claim above that which you maybe able to identify yourself. John.

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